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Croatian GDP rises slightly in Q4

Xinhua, February 28, 2015 Adjust font size:

The Croatian economy rose 0.3 percent in the last quarter of 2014, compared with the same period in 2013, after declining for 12 consecutive quarters, according to the latest figures published Friday by the Croatian National Statistics office (DZS).

The biggest contributor to growth was made by the processing industry and increased export of goods, DZS said.

Construction stayed on a low level, gross investments in fixed capital had decreased.

According to EU methodology, which adjusts the data with season, the growth was 0.4 percent. The adjusted figure makes Croatian GDP growth in the last quarter bigger than Cyprus, Italy, Finland, Austria and France.

Croatia can only declare the end of recession after at least two consecutive quarters of growth, according to the EU methodology.

However, DZS' figures showed GDP in 2014 as a whole declined 0.4 percent, compared with 2013, marking a sixth consecutive fall. Endtiem